Taikang Life Insurance Co Ltd, the country's fourth largest life insurer, saw its premium income rise 5 percent to 75.4 billion yuan ($12.1 billion) in 2012.

In a statement, officials said it had invested 13.2 billion yuan in six infrastructure and real estate debt projects during the year, while it received 4 billion yuan from shareholders, strengthening its finances to make further developments in 2013.

Last year, China's life insurance premiums dropped 1.8 percent, according to a recent Swiss Re, which it blamed partly on regulatory changes, that constrained bancassurance sales, and the sluggish capital market.